Recovery rate of bankruptcy

Bankrupt claims paid classified as priority does not guarantee, collateral and guarantees non-priority claims in that order. The type of request determines how the creditor can expect to receive. Priority requirements for priority non-secure and secure ClaimsUnsecured include costs associated with filing bankruptcy and control, spouse and children, student loans and can not be dismissed. Debts include continued requests for warranty cannot be excluded as real estate or personal property, including cars and boats, if the debtor not repay the debt. Secured creditors receive the value of real estate, the debtor retains and can get the full value depending on the vehicle, if the debt of incurred .Non priority ClaimsNon-priority was, unsecured receivables include medical expenses or payment for furniture loans credit card debt. These unsecured creditors get less than what you are depending on, if it is established, all left after payment not guaranteed priority and receivables due. Sometimes get nothing.Chapter 7 Chapter 13Chapter 7 creditors paid from the sale of the assets of the debtor, to the exclusion of other than assets. Chapter 13 creditors enter Court with the debtor from three to five-year payment plan approved. This plan published any debt that is remaining non-priority unsecured having completed.